Nifty closes with strong gains ahead of the April 9 expiry. Is this the start of a bullish rally or a trap for retail traders? Read the detailed Nifty 50 prediction, technical analysis, OI data, and key insights from today’s market.
📰 Market Overview – A Breather After the Bloodbath
After yesterday’s historic gap-down, markets opened with a strong gap-up today, showing signs of strength. Nifty gained over 400 points, and Sensex recovered nearly 1,500 points. Despite the ongoing geopolitical tensions and tariff shocks, bulls took charge in today’s session.
NIFTY 50 (OHLC)
| OPEN | HIGH | LOW | CLOSE |
| 22,446 | 22,697.20 | 22,270.85 | 22,535.85 |
MARKET BREADTH (NIFTY 50)
| ADVANCED | FLAT (<0.25%) | DECLINES |
| 49 | 1 | 00 |
- A clear dominance by bulls with 49 out of 50 Nifty stocks closing in green.
NIFTY MOVERS
| TOP GAINERS | GAIN % | TOP LOOSERS | LOSS % |
| JIOFIN | + 5.61 % | POWERGRID | – 0.09 % |
| SHRIRAMFIN | + 5.21 % | N/A | N/A |
🏦 NIFTY SECTORAL PERFORMANCE
All sectoral indices ended in green, signaling broad-based participation:
- PSU Bank: +2.64%
- Realty: +2.35%
- Auto, Metal, FMCG, Fin Services: All ended strong.
- This positive breadth is a healthy sign and indicates strong buying interest from institutions.
Technical Analysis – Is the Rally Sustainable?
- Daily Time Frame: Nifty formed a bullish candle after taking support near 22,300. It’s moving in an upward channel but still hasn’t filled the previous gap.
- Resistance: 22,700, then 23,000.
- Support: 22,350 (new higher support zone).
- Daily RSI: Reversed from 32 ➝ Now at 42.
- Potential to move towards 60-70 if momentum sustains tomorrow.
Open Interest (OI) Data
- Support : 22,500 with 68 Lkh PE OI.
- Resistance : 22,800 with 53 Lkh CE OI.
- At 23,000, there are 1.02 Cr. CE OI present which will definitely Show resistance.
🧮 OI Build-Up:
| Index | PRICE % | OI % | BUILDUP |
| NIFTY | 1.72% | -1.29% | SHORT COVERING |
| BANK NIFTY | 1.45% | -1.35% | SHORT COVERING |
| FINNIFTY | 1.71% | -1.28% | SHORT COVERING |
- Just before Expiry day, short covering started. That means tomorrow market can be bullish according to buildup.
🌐 FII & DII Data (To be Updated)
- FII : -4994.24 Cr. Sell
- DII: +3097.24 Cr. Buy
- FII has bought 62762.76 Cr in Index options which shows 300-500 points move either side is possible tomorrow.
🧠 Prediction & Trade Plan – Expiry Special
Tomorrow is weekly expiry, and markets have shown a sharp short- covering bounce. While this gives a bullish signal, remember that:
- VIX is still elevated: Premiums are high, and whipsaws are possible.
- Trend on higher timeframes is still bearish.
- Geo-political concerns can trigger sharp moves anytime.
- ⚔️ Levels to Watch:
- Resistance: 22,700 → 23,000
- Support: 22,450 → 22,300
- 👉 Intraday Strategy for Expiry:
- Focus on buy-on-dips near 22,500 with strict SL. Watch for price action near resistance zones before deploying PE trades.
🧠 Key Learning from Today’s Market
- “When VIX is high, premiums are high—but they melt FAST on the fall of VIX. Always use strict stop-losses and position sizing when VIX > 20.”
- 💡 High VIX = Risk for Option Buyers. Plan accordingly.
📣 What’s Your Take?
Do you think Nifty will cross 23,000 tomorrow or face resistance?
💬 Drop your thoughts in the comment section!